Attention For Sale By Owners (FSBO's)...
If you are a FSBO (For Sale By Owner):
Selling a home in Orlando requires an intimate understanding of the real estate market. If your property is priced too high, it will sit and develop a reputation for being a problem property. Even though you know that there is nothing wrong with your property, buyers will think that there is something wrong with it...perhaps some kind of structural problem or hidden problem that is preventing it from selling. If the property is priced too low, you will lose serious money.
A little time spent investigating up front will pay off tenfold in the end.
Here are 8 Questions you should consider before trying to sell FSBO:
1. Do I have the time, energy, money to advertise, know-how and ability to devote a full forced effort to sell my home?
One of the keys to selling your home efficiently and profitably is complete accessibility - when a buyer wants to see your home, usually they want to see it NOW. If you're at work and unavailable they move on to the next property and find another one they like. Many homes have sat on the market much longer than necessary because the owner was unwilling or unavailable to show the property. Realize that a certain amount of hours each day is necessary to sell your home. You have to be available when the buyers are, not vice versa.
2. Am I prepared to deal with an onslaught of buyers who perceive FSBO’s as targets for low balling?
One of the challenges of selling a home is screening unqualified prospects and dealing with low-ballers. It often goes unnoticed how much time, effort and expertise it requires to spot these people quickly. Do you know how to qualify a buyer? If not, they can waste a lot of your time. How do you know if the person contacting you is not a criminal trying to preview your home to see what valuables you have. Qualifying and having their 'REAL' personal information on record can prevent this.
Settling for a low-ball bid is usually worse than paying broker commissions.
3. Am I offering financing options to the buyer?
As a licensed mortgage broker, I often find the difference between selling a home and losing a sale are all in the ability to obtain creative financing options for the buyer. Your real estate agent should understand the different creative financing options that can assist a non-qualifying buyer to obtain financing.
4. Am I prepared to answer questions about financing?
One of the keys to selling, whether it’s a home, a car, anything, is to have all the necessary information the prospective buyer needs and to offer them options.
Think about the last time you purchased something of value. Did you make a decision before you had all your ducks in a row? By offering financing options, you give the home buyer the ability to work on their terms and open up the possibilities of selling your home quickly and more profitably.
A professional real estate agent will have a complete team- from lenders to title reps- for you to utilize; they’ll be at your disposal.
5. Do I fully understand the legal ramifications and necessary steps required in selling a home?
Many home sales have been lost due to incomplete paperwork, lack of inspections or not meeting your states disclosure laws. Are you completely informed of all the steps necessary to sell real estate? If not, a professional would be a wise choice.
6. Do I have the capability of handling the legal contracts, agreements and any disputes with buyers before or after the offer is presented?
Ask yourself if you are well versed in legalese and if you are prepared to handle disputes with buyers. To avoid any disputes, it is wise to put all negotiations and agreements in writing. Many home sales have been lost due to misinterpretation of what was negotiated.
7. Have I contacted the necessary professionals... title, inspector (home and pest), attorney and escrow company?
8. Are you familiar with top inspectors and escrow companies?
Don’t randomly select inspectors, attorneys, and title reps. Like any profession, there are inadequate individuals who will slow, delay and possibly even cost you the transaction. If these questions raise some concerns, you may want to speak with a professional.
*NOTE: There are many, many more items involved in the transaction of real estate. I'm not putting these here to scare you, I'm putting them there to help you. If you want to sell your home on your own - I'm all for it and can offer you some of the best FREE advice you will ever receive. In return, all I ask is that you refer a friend or family member to me in the future that perhaps doesn't want to go through the process of selling or buying a home on their own. Sound Fair?
Feel free to contact me at any time, should you have any questions whatsoever about selling your home on your own. I can show you how to guarantee the sale of your home.
I may be reached directly at (407) 346-5331.
Warm Regards,
Chantal